Westside Investment Management Inc. Boosts Stake in McDonald’s Co. (NYSE:MCD)

Westside Investment Management Inc. increased its holdings in McDonald’s Co. (NYSE:MCD) by 61.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 998 shares of the fast-food giant’s stock after acquiring an additional 380 shares during the period. Westside Investment Management Inc.’s holdings in McDonald’s were worth $289,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MCD. Legacy Investment Solutions LLC purchased a new stake in shares of McDonald’s during the 3rd quarter worth approximately $25,000. RPg Family Wealth Advisory LLC bought a new stake in shares of McDonald’s in the third quarter valued at $31,000. Hara Capital LLC purchased a new stake in McDonald’s during the third quarter valued at about $44,000. Peterson Financial Group Inc. purchased a new stake in shares of McDonald’s during the 3rd quarter valued at approximately $58,000. Finally, FSA Wealth Management LLC bought a new position in shares of McDonald’s in the third quarter worth $72,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MCD shares. Barclays increased their price objective on McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. BMO Capital Markets boosted their price objective on shares of McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. TD Cowen reiterated a “hold” rating and issued a $300.00 target price on shares of McDonald’s in a research note on Tuesday, October 29th. Bank of America upped their price target on shares of McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, KeyCorp boosted their target price on McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $321.22.

McDonald’s Stock Performance

NYSE MCD opened at $281.30 on Thursday. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The stock has a market cap of $201.58 billion, a P/E ratio of 24.70, a price-to-earnings-growth ratio of 3.68 and a beta of 0.73. The stock has a 50 day simple moving average of $291.81 and a two-hundred day simple moving average of $287.95.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping the consensus estimate of $3.18 by $0.05. The business had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.19 EPS. Sell-side analysts predict that McDonald’s Co. will post 11.73 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $294.51, for a total transaction of $441,470.49. Following the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $459,435.60. The trade was a 49.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $290.15, for a total transaction of $989,121.35. Following the transaction, the executive vice president now directly owns 9,675 shares of the company’s stock, valued at $2,807,201.25. This represents a 26.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,605 shares of company stock worth $2,508,102. Company insiders own 0.23% of the company’s stock.

McDonald’s Company Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.